A Treatise on Political Economyproprietor, 1851 - 339 páginas |
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Términos y frases comunes
adopted aggregate amount annum ascer augment bushel capital and land causes cent cial coin commerce commodities concur consequences constitute consumed consumption contracts corn-laws cost degree of wealth desire of happiness diminished distribution duction employed enforcement enlarged equal equi established exchange existing expedient fact favor increase individual industry and capital interest latter laws of trade less lessens liberated desires machine mankind market value means measure ment mental mind nations natural density natural laws objects of desire political population portion possess powers present prime agents principle productive agents productive capital productive forces productive service proprietors protection quantity of value rate of profit regarded result revenue right of property rule silver skill and labor slavery Social Contract social wealth sparce standard of profit sufficient supply and demand surplus taxation timate tion true value truth utility value of land vibrate vidual wheat
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Página 144 - I know nothing that could, in this view, be said better, than " do unto others as ye would that others should do unto you...
Página v - ... encumbered with discussions of no direct interest to us. What we republicans need, is a system of Political Economy in perfect harmony with the other portions of our political edifice. In other words, we want an honest, straightforward system — a system grounded on the broad principles of justice and equality, and in all its doctrines and legislative applications solely designed to illustrate and enforce those principles.
Página 91 - It is thus of all other cities, towns and villages throughout the civilized world ; and it is thus in all agricultural districts, but in these the land and its meliorations are so much more intimately blended that we cannot perceive the facts so readily.
Página 293 - ... (merely fictitious) for real value, and a material of paper for one of metal. Thirdly, That while the invention last named has secured the aims of its projectors by partially avoiding the objections referred to, it has produced other mischiefs of a far more serious kind, which may be recapitulated thus : 1. It has turned out that the fictitious value of the convertible paper costs its producers as much or more than it costs to produce the coin which it purports to represent.* This of itself neutralizes...
Página 60 - That the quantity of true value inherent in any given product, is not only equal to, but identical with, the quantity of productive service incorporated with it ; that the market value is sometimes greater than the true value and sometimes less, but if measured at their mean the two are equal in quantity ; and that, although the money value or market price rarely coincides with either the true value or the market value, yet when reduced to its average and thus measured, the quantity does not vary...
Página 15 - ... relates to its origin ; and this also involves in itself a definition of that wherein wealth consists. The term is thus explained in these pages : — " The term wealth, or social wealth, I regard as the general name of that class of things which possess the attribute, value ; and value I conceive to be that property of things, which prevents their obtainment unless other things possessing the same property be given in exchange for them. This attribute is sometimes called exchangeable value,...
Página 11 - To uufold the law or laws of human nature from which the desire of wealth emimates. 2. To explain the nature and attributes of the resulting phenomena, wealth — or more properly, value. 3. To point out the prime agents of its production, together with the manner in which their respective services concur in the process. 4. To ascertain and describe the social machinery that political communities have devised and adopted, as general auxiliary agents of production. And, 5. After ascertaining these...
Página 91 - The truth is, the market value of land is merely the reflection of the value of the productive capital placed upon it and its immediate vicinity. It has no real value of its own; it costs nothing to produce; but since the laws have endowed it with the vital principle of wealth by subjecting it to individual ownership, it can no longer be obtained without giving in exchange for it an equivalent portion of the capital present...
Página 295 - ... one-tenth of the amount by which their loans and discounts at present exceed the amount of their capital actually paid in and not otherwise employed. [This would leave them at the end often years without any bills in circulation, without any capital loaned out, except their own, and with their deposits, if any remaining in the vaults unemployed. It would, therefore, not only deprive them of the power of producing money,. but so effectually dry up their sources of profit that they would be likely...
Página 296 - ... it possesses greater convenience than coin." Mr. Opdyke thus sets forth the advantages of a money of paper (inconvertible paper-money.) " Paper-money thus issued would cost nothing, or next to nothing, to produce, nor would it be inconvenient from weight. Therefore it would •clearly obviate two of three serious objections to which coin is liable. And since its quantity as compared with population or Commerce would be invariable, it follows that its value or purchasing power would be uniform,...